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Auckland Council is reporting good early interest in its plans for an "Innovation Precinct" at the newly developed Wynyard Quarter.

An initial space of about 50,000 square metres has been set aside for the precinct at Auckland's waterfront, which project developers - the Ministry of Science, Auckland Council and Waterfront Auckland- hope to make into a technology and science centre.

Plans for the precinct, which Waterfront Auckland chairman Bob Harvey said could become a"mini Silicon Valley," were announced last October. Clyde Rogers, a spokesperson for the Auckland Council said interest from businesses in the proposed area had been steady since then .

Rogers said that project developers were currently performing a cost-benefit analysis of the proposal. A business case finalising plans for the precinct is due to be released at the end of next month.

Although Rogers would not reveal how project developers expected to attract "high-tech companies" to the area, he did say initial interest from several firms was proving promising for the type of area they were hoping to create.

One of the companies to have expressed early interest in the precinct is network monitoring firm Endace. Endace provides technology to many of the world's intelligence agencies for monitoring internet traffic and its company founder Dr Ian Graham was named New Zealand's Engineering Entrepreneur of the year for 2011.

Earlier this week, 3D software-firm Nextspace opened offices at the Wynyard Quarter. It became the first technology company to move into the area.